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Commodities / Re: CRUDE PALM OIL
« Last post by king on Yesterday at 03:32:23 PM »

The Star Online



Business NewsHome > Business > Business News
Monday, 24 April 2017
Planters target existing oil palm plantations

Industry expert M.R. Chandran(inset filepic) said the current preference for brownfields among big plantation companies are mostly due to major changes in the global oil palm sustainability requirement scene.  “Strict moratorium imposed on new oil palm planting in Indonesia as well as the EU Parliament’s latest call for a single Certified Sustainable Palm Oil scheme for Europe-bound palm and other vegetable oil exports are putting off local planters’ interest to develop new oil palm cultivation on greenfields,” he told StarBiz recently.
Industry expert M.R. Chandran(inset filepic) said the current preference for brownfields among big plantation companies are mostly due to major changes in the global oil palm sustainability requirement scene. “Strict moratorium imposed on new oil palm planting in Indonesia as well as the EU Parliament’s latest call for a single Certified Sustainable Palm Oil scheme for Europe-bound palm and other vegetable oil exports are putting off local planters’ interest to develop new oil palm cultivation on greenfields,” he told StarBiz recently.
PETALING JAYA: There is increasing appetite for local plantation companies to acquire existing oil palm plantations to expand their hectarages.

Since late last year, local planters with deep pockets have been snapping up more brownfield oil palm plantations in Malaysia instead of greenfields as part of their landbank expansion and value creation.

Industry expert M.R. Chandran said the current preference for brownfields among big plantation companies are mostly due to major changes in the global oil palm sustainability requirement scene.

“Strict moratorium imposed on new oil palm planting in Indonesia as well as the EU Parliament’s latest call for a single Certified Sustainable Palm Oil scheme for Europe-bound palm and other vegetable oil exports are putting off local planters’ interest to develop new oil palm cultivation on greenfields,” he told StarBiz recently.

Last week, KUB Malaysia Bhd proposed to acquire 1,534ha brownfield oil palm plantation land in Sg Kinabatangan, Sabah.

Matang Bhd, meanwhile, has put in a bid for two parcels of leasehold oil palm land measuring about 4,219.79 acres, with a 60-tonne per hour palm oil mill in Raub, Pahang.

Boustead Plantations Bhd is also looking to acquire new plantation areas within Malaysia to compensate for the loss of its plantation land which were either sold or converted into property development.

Similarly, top planter Kuala Lumpur Kepong Bhd (KLK) is said to be eyeing for merger and acquisition targets in the plantation sector after its unsuccessful RM2.3bil takeover bid of London-listed MP Evans Plc last year.

It was recently reported that the company’s ideal target would be companies with brownfield plantation landbank of a decent age and good fresh fruit bunch yields.

Sibu-based Ta Ann Holdings Bhd paid RM211.14mil for a 100% stake in Agrogreen Ventures Sdn Bhd, which has 5,280ha of brownfield plantation land in Stungkor, Sarawak, in October last year.

According to Chandran, there could be quite a number of oil palm estates owned by small plantation companies in Indonesia and Malaysia that will be up for sale this year.

“As new players, many small planters cannot cope with the rising cost of production (COP). For start-ups, their COP could be as high as RM2,000 per tonne of crude palm oil (CPO), especially due to their young palm trees.

“Poor plantation management also saw many inefficient small estates not hitting their targeted 23-25 tonnes per ha per year in terms of yields,” added Chandran.

Meanwhile, most planters’ borrowings are in US dollars. Normally banks are more “friendly” if the price of CPO is trading between US$650-US$670 per tonne.

“However, if CPO fell below US$600 per tonne, then small planters will find it difficult to service their loans and some even may opt to sell their estates below the market valuation.”

This is especially so with the current price of CPO trading at RM2,531 (US$575.6) per tonne, said Chandran, adding that many small plantation companies in Sabah and Sarawak could be takeover targets of the big boys of the industry this year.

Back then in 2013-2014, the acquisition price for Sabah and Sarawak plantation land inclusive of palm oil mills ranged between RM75,000 and RM80,000 per ha.

“Now, these prices are no longer valid. I believe the plantation landbank price in Sabah has come down to about RM60,000-RM65,000 per ha,” Chandran pointed out.

In Peninsular Malaysia, the value for similar-sized oil palm estates is around 20% to 40% higher, depending on location.

As for Indonesia, over five million ha of oil palm land is said to be held by foreign investors, and they have poured over RM100bil in investments into the sector.

According to market analysts, Malaysian planters with more than 50% of planted land bank exposure to Indonesia include IJM Plantations Bhd (52%), KLK (53.2%), and Genting Plantations Bhd (72%), followed by Sime Darby Bhd at about 38%, Felda Global Ventures Holdings Bhd at 5.9% and IOI Corp Bhd at 7.2%.

Plantations , Palm Oil , Commod

Global Markets / Re: CHINA
« Last post by king on Yesterday at 03:28:06 PM »

Business NewsHome > Business > Business News
Monday, 24 April 2017 | MYT 2:02 PM
China stocks head for worst day of 2017 as regulators tighten grip

SHANGHAI: China stocks tumbled more than 1 percent on Monday and looked set for their biggest loss of the year amid signs that Beijing would tolerate more market volatility as regulators clamp down on shadow banking and speculative trading.

Recent signs of stability in China's economy "have provided a good external environment and a window of opportunity to reduce leverage in the financial system, strengthen supervision and ward off risks," the official Xinhua News Agency reported on Sunday.

"Over the past week, interbank rates trended higher, bond and capital markets suffered from sustained corrections and some institutions faced liquidity pressure. But these have little impact to the stability of the broader environment."

The Shanghai Composite Index slumped 1.6 percent to 3,123.80 points by the lunch break, after posting its biggest weekly loss so far this year last week.

The blue-chip CSI300 index fell 1.3 percent to 3,423.11.

Barring a rebound, the indexes looked set for their biggest one-day percentage loss since mid-December.

Daily declines of more than 1 percent in the indexes have been rare for notoriously volatile Chinese markets this year.

"Even the better-than-expected Q1 data could not boost the market, as investors are concerned about regulatory risks," wrote Larry Hu, analyst at Macquarie Capital Ltd, referring to stronger-than-expected 6.9 percent economic growth early in the year.

In the latest of a flurry of regulatory measures, China's insurance regulator said on Sunday it will ramp up its supervision of insurance companies to make sure they comply with tighter risk controls and threatened to investigate executives who flout rules aimed at rooting out risk-taking.

The banking regulator said late on Friday that growth in Chinese wealth management products (WMPs) and interbank liabilities eased in the first quarter, suggesting authorities are making some headway in containing financial risks built up by years of debt-fuelled stimulus.

But while the clampdown is expected to continue, most analysts believe moves will be cautious to avoid hitting economic growth.

Investors are already concerned that the economy could lose momentum in coming months as local governments launch more stringent measures to cool heated property prices.

"Market risk appetites could continue to decline if financial regulation keeps tightening," said Gao Ting, Head of China Strategy at UBS Securities.

"Investors seem to mostly be responding by adjusting their positions, particularly by rotating into high-quality blue-chips."

Banking is the only main sector that ended the morning in positive territory, while small-caps suffered massive sell-offs, with an index tracking start-up stocks falling nearly 2 percent.


In Hong Kong, stocks dipped slightly, with the bearish sentiment from China largely neutralized after the market's favoured candidate won through the first round of the French election, reducing the risk of a Brexit-like shock.

The Hang Seng index dropped 0.1 percent to 24,016.23 points, while the Hong Kong China Enterprises Index was unchanged at 10,045.78. - Reuters
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Industry expert M.R. Chandran(inset filepic) said the current preference for brownfields among big plantation companies are mostly due to major changes in the global oil palm sustainability requirement scene.  “Strict moratorium imposed on new oil palm planting in Indonesia as well as the EU Parliament’s latest call for a single Certified Sustainable Palm Oil scheme for Europe-bound palm and other vegetable oil exports are putting off local planters’ interest to develop new oil palm cultivation on greenfields,” he told StarBiz recently.
Planters target existing oil palm plantations
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Equities / Re: I EAT EAH
« Last post by master wahsing on Yesterday at 03:23:21 PM »
:clap:  :thumbsup: :cash:

Equities / Re: Spot KLCI Index
« Last post by king on Yesterday at 03:10:43 PM »

Global markets jump as Macron takes lead in French election; gold sinks by over 1%
Gemma Acton   | @GemmaActon
7 Mins Ago

Sylvain Lefevre | Stringer
Global risk assets kicked off the new trading week on a sure footing after centrist Emmanuel Macron pulled in the highest number of votes among candidates in the first round of the French presidential election on Sunday.

The euro traded to a five-month high overnight on Sunday as exit poll results filtered in, with the European currency jumping by 1.35 percent to close at 1.0873 versus the U.S. dollar, having traded above the 1.09 handle earlier in the session before losing a little steam. Early in Monday's session, the euro had lost a little further momentum and was trading around 1.0835 by 07:45 a.m. London time. The Financial Times noted that the single currency's jump was its best daily leap in 10 months. 1-month implied volatility in the currency also sank by over a third early Monday.

Equity markets in Asia tracked higher on Monday with Japan's Nikkei 225 index ending the session up by 1.4 percent and both Australia's ASX 200 and Hong Kong's Hang Seng indexes in positive territory. Bucking the positive trend, China's Shanghai composite was off by around 1.23 percent, thought to be affected by fears over domestic regulators further toughening their stance towards speculative traders.

Also trading lower was safe haven spot gold, around 1 percent lower by 7:45 a.m. London time at $1,271 per troy ounce. The precious metal is often used as a hedge in times of political uncertainty.

 Fixed income still looks challenged in 2017: Strategist   Fixed income still looks challenged in 2017: Strategist 
1 Hour Ago | 02:31
Meanwhile, ahead of the European open, France's benchmark CAC 40 equity index was expected to open around 5 percent higher, leading anticipated gains in the U.K.'s FTSE 100 and Germany's DAX index, seen trading up by around 41 points and 186 points respectively, according to spreadbetters quoted by Reuters. U.S. equity futures also reflected a higher expected open with the Dow Jones industrial average expected to soar by nearly 200 points.

Nonetheless, the portfolio strategy research team at Goldman Sachs led by Peter Oppenheimer contended in a research note late on Sunday that equity markets had already largely priced in the first round outcome and they therefore did not expect a significant equity rally from here.

"As this has largely been the central expectation priced into the markets, we would expect any rally to be modest. French domestic stocks and the CAC 40 have not underperformed significantly as of late, and we do not expect them to rally materially following today's results, or after the second round of the election."

Centrist Emmanuel Macron of the independent En Marche party secured the lion's share of votes in Sunday's preliminary election at 23.7 percent, with the far-right's Marine Le Pen of France's National Front party trailing narrowly behind at 21.7 percent, according to Harris poll estimates. Separately, the French Interior ministry announced its final figures at 5 a.m. local time on Monday morning which showed that Emmanuel Macron had won 23.75 percent of the vote versus Le Pen's 21.53 percent. With tactical voting expected to dominate in the final round scheduled for Sunday May 7 and several political heavyweights, including incumbent French Prime Minister Bernard Cazeneuve and losing first round Republican candidate Francois Fillon throwing their support behind Macron, the 39-year-old former banker heads into the showdown as the favorite. Two separate polls from Ipsos/Sopra Steria and Harris released on Sunday anticipate Macron winning around three-fifths of the vote in the final.

 Macron's victory a good result for young people   Market has overestimated Macron's potential for liberal market reform: Pro 
1 Hour Ago | 02:19
A closely watched proxy of investors' fear levels in recent months has been the gap between safe-haven German government bond yields and those of their French counterparts. After a spike in the spread in recent weeks, the difference between the yields at the end of last week heading into the vote had retraced to the lower level of 59.30 basis points, down from this month's high of around 75 basis points in mid-April. The spread was anticipated to close further still when bond markets open on Monday morning.

However, the shrinking of the yield gap between the 10-year German bunds and French OATs of the same maturity probably will not run much further, according to Tim Graf, head of macro strategy EMEA at State Street Global Markets.

"I think there has to be some sort of premium to OATs retained," Graf told CNBC Monday. He noted that the tightest the spread had ever got was around 35 basis points and current levels were not too far removed from that with two weeks – in which a lot can happen – still remaining between now and the final round of the election.
Personal Finance / Re: Scams
« Last post by DR KIM on Yesterday at 11:24:20 AM »

Over 100 lose RM6 million in Penang scam
Bernama | April 23, 2017
They were promised investment returns of up to 40% per month by the company led by a 25-year-old man.

GEORGE TOWN: A total of 107 people have claimed to have lost RM6 million to a company here after investing in a scheme offering high returns.
A representative of the group, Justin Tay Ooi Hong, said the scheme had started about a year ago and none of the investors had received their returns as promised.
“Among others, we were promised investment returns of up to 40% per month.

“This company is led by a 25-year-old director,” he told a press conference at the Gerakan office here today.
Justin said they had trusted and had confidence in the company due to its valid business registration number.
“Over 500 people have become victims of the scam and there are still many people out there who have yet to lodge a police report,” he said, adding that some of them had made reports at the Jalan Patani police station, Timur Laut, on March 21.
Penang Commercial CID chief ACP Abdul Ghani Ahmad confirmed receiving the reports.

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meaning  almost 300 % with in 2 months.... :cash: :cash:

>> so  watch out   other cheap warrants  such as NEXGRAM  - WC   :clap: :clap: :thumbsup:

It's  NO  SCAM  >> it's  real money  :cash: :cash: :cash:
Bonds / Re: Bonds
« Last post by zuolun on Yesterday at 11:00:49 AM »
Malaysia reaches deal on $2.5 billion of 1MDB bonds ~ 22 Apr 2017
  • Nation will pay $2.5 billion as partial debt settlement
  • Deal to be announced Monday on London Stock Exchange
Fitch cuts Italy's debt rating; cites weak growth, political risk ~ 21 Apr 2017

French election jitters sets bearish tone for Italian bonds ~ 11 Apr 2017
  • Nomura says Italy concerns to persist on low growth, high debt
  • Italy spread against Germany widens to highest since 2014
Equities / Re: I EAT EAH
« Last post by Oly Shyte on Yesterday at 10:36:32 AM »
:clap:  :thumbsup: :cash:
Commodities / Re: Spot Brent Oil Price
« Last post by king on Yesterday at 09:16:10 AM »

Commodities / Re: CRUDE PALM OIL
« Last post by zuolun on Yesterday at 09:05:38 AM »
Europe moves to restrict import of unsustainable palm oil ~ 22 Apr 2017

What if EU were to stop importing palm oil from Indonesia? ~ 17 Apr 2017

UFOP welcomes EU vote to exclude palm oil for biofuel use ~ 17 Apr 2017
The European Parliament supports the move to exclude palm oil as a raw material for energetic use from 2020, at the same time acknowledging the sustainability of biofuels made from oil plants (rapeseed and sunflower) grown within Europe.

Asian palm oil producers slam EU moves to restrict market access

Indonesia and Malaysia accuse EU of protectionism under guise of conservation concerns

By Simon Roughneen
April 17, 2017

JAKARTA -- Indonesia and Malaysia, which produce more than 80% of the world's palm oil, are resisting proposals by European parliamentarians that could limit their access to the second biggest palm oil market after India.

Government ministers from Malaysia and Indonesia, along with some regional palm oil producers, met in Jakarta on April 11 to plan a response to a resolution approved on April 4 by European parliament members concerning "palm oil and deforestation."

The parliamentarians requested the EU to "introduce a single certification scheme for palm oil entering the EU market and phase out the use of vegetable oils that drive deforestation by 2020."

They hope for an EU-wide ban on biodiesel made from palm oil by 2020, claiming that the expansion of palm oil plantations, mostly in Southeast Asia, is causing "massive forest fires, the drying up of rivers, soil erosion, peatland drainage, the pollution of waterways and overall loss of biodiversity."

Indonesia's Environment and Forestry Minister Siti Nurbaya Bakar called the EU proposals an "insult," while the foreign ministry accused the EU of "protectionism" and of ignoring the rights of millions of Indonesian farmers whose main source of income is from small oil palm plots.

The growth in global demand for palm oil, which is used in a wide array of products from cosmetics and fuel to foods such as margarine and chocolate, has resulted in the massive clearing of forests, particularly in Indonesia, over the last 30 years. The slash and burn methods used on Sumatra and Borneo have led to forest and peatland fires that have enveloped Singapore and parts of Malaysia in a smoky haze that has spread as far as southern Thailand.

Images of orphaned baby elephants and orangutans rescued from cleared forests and plantations have spurred vigorous environmental activism and consumer awareness campaigns in recent years. Species such as the Sumatran elephant have been put on endangered lists, with the ensuing bad publicity forcing governments and palm oil companies to sign up for various national and international certification schemes to guarantee that palm oil products are not causing environmental damage.

But members of the European parliament argue that a single certification scheme is needed. "MEPs note that various voluntary certification schemes promote the sustainable cultivation of palm oil," but "their standards are open to criticism and are confusing for consumers," said a European parliament press release issued on April 4.

Southeast Asian pushback

In response, Indonesia's Agriculture Minister Andi Amran Sulaiman told reporters in Jakarta that "we cannot let Europe dictate Indonesia's agriculture. We have our own standard called Indonesia Sustainable Palm Oil."

Mah Siew Keong, the Malaysian plantation industries and commodities minister, said that "Malaysia too already has a national certification system." He noted that "only palm oil is subjected to certification while similarly produced vegetables oils are not subject to sustainability certification," asserting, "this is not fair."

With the Indonesia Oil Palm Producers Association executive director Fadhil Hasan calling on the government to "retaliate," mentioning wine, aircraft, perfume and pharmaceuticals as imports from Europe that Jakarta could target, the dispute over palm oil could undermine work started in July 2016 by the EU and Indonesia to move toward a free trade agreement, as well as disrupt longer-standing negotiations between the EU and Malaysia on a similar deal.

Indonesia is Southeast Asian's biggest economy and accounts for almost 40% of the total 620 million population of Southeast Asia. "European companies already provide 1 million jobs here in Indonesia and we hope it can grow," said EU Agriculture Commissioner Phil Hogan, during a Nov. 2016 trade mission visit to Jakarta.With tensions over palm oil threatening to undermine free trade negotiations, some European officials sought to play down some of the concerns raised by MEPs.

Jean-Charles Berthonnet, the French ambassador to Indonesia, described the MEP resolution as "unilaterally critical and moralizing" in an opinion article published in the Jakarta Post, though the ambassador agreed that a better certification system is needed.

"Deforestation is a very complex issue and I think we can agree on a number of points. But we need to take a broader look at deforestation because it is not caused only by the palm oil industry," said Karmenu Vella, the EU commissioner for environment, maritime affairs and fisheries.

Indeed, one recent agreement suggests that the EU and Indonesia can collaborate on preserving forests. In November 2016, Indonesia and the EU launched a licensing scheme that aimed to stop illegally logged timber from being exported from Indonesia -- the world's third biggest jungle area after Brazil and the Democratic Republic of the Congo -- to Europe, and in turn reduce deforestation across the archipelago. "Indonesia has shown true leadership and now sets a high standard for other countries to emulate," said Vincent Guerend, the EU ambassador to Indonesia, when the initiative was launched.

Signs of cooperation

But both sides will now have to come to terms over palm oil. The April 11 meeting of palm oil growers in Jakarta was convened to plan a negotiating strategy ahead of a possible meeting with European officials in May to discuss the proposed restrictions on palm oil.

"We will do whatever we can to convince the European parliament and European countries not to implement it," Darmin Nasution, Indonesia's coordinating minister for economic affairs, told reporters. "We will negotiate in full force," he added.

The European parliamentarians also accused the palm oil companies of not living up to their claims that their products are environmentally friendly. "Some companies trading in palm oil are failing to prove beyond doubt that the palm oil in their supply chain is not linked to deforestation, peatland drainage or environmental pollution, and to demonstrate that it has been produced with full respect for fundamental human rights and adequate social standards," the MEPs stated.

Anita Neville, vice president of corporate communications and sustainability relations at Golden Agri-Resources, a Singapore-based palm oil company that manages 480,000 hectares of Indonesian palm oil plantations, said that producers hoped that the EU would not back away from the use of palm oil. "If your motivation is to tackle deforestation and poverty, you need to stay in the game and demand sustainable palm oil," she said.

Malaysian palm oil producers Sime Darby and IOI announced in March they had joined the year-old Fire Free Alliance, which "focuses on fire prevention through community engagement." It includes environmental groups and major forestry and agriculture companies such as pulp and paper giant Asia Pacific Resources International and major palm oil players Musim Mas Group and Wilmar International.

The Indonesian government is backing the FFA, which so far supervises activity in just 200 villages covering roughly 1.5 million hectares of land. This amounts to just over a quarter of what the Indonesian government estimates are 731 villages in seven of Indonesia's 34 provinces where slash and burn clearances are undertaken.

Among those most affected by plantation expansion and deforestation in Indonesia is the country's indigenous population, which is seeking more rights over traditional lands in many places that overlap with some of the country's forests and plantations.

But granting such rights would likely make it more difficult to conduct agribusiness on up 8 million hectares of land claimed by indigenous peoples. This is seen as one reason why Indonesian President Joko Widodo belatedly cancelled a scheduled appearance at a March congress of indigenous leaders in northern Sumatra.

Rukka Sombolinggi, the newly elected head of the Indigenous Peoples Alliance of the Archipelago (AMAN), said she was not surprised at the president's reluctance to attend the event. But she added, "the problem is with the ministry of environment and forestry, they are the ones who are claiming our land as state land."

Her group contends that giving indigenous groups legal rights to their land is the best way to ensure that forest ecologies are preserved. Rukmini P. Toheke, a prominent activist for indigenous peoples from Palu in central Sulawesi, said: "For us the forest is 'katu vua,' or life itself." She added: "If we destroy the forests, we destroy our own lives."

U.S. to launch probe into Argentina, Indonesia biodiesel imports ~ 14 Apr 2017
Argentina is the world’s No. 1 exporter of soyoil, used to make biodiesel. Indonesia is the world’s top producer of palm oil, which can also be used to churn out the fuel. Both countries rely heavily on resource exports.

Global Markets / Re: Foreign Direct Investment (FDI) & Fund Flows
« Last post by zuolun on Yesterday at 07:34:55 AM »
Local enterprises have become the backbone of China’s outbound investments ~ 24 Apr 2017
China’s outward FDI in 2016 rose 30% year-on-year to a record high of US$188.8 billion.

BMY Group hit by China investment crackdown ~ 23 Apr 2017
BMY Group founder Eric Gao is revising his plans to raise $50 million from Chinese investors due to the country's capital controls.

China investments start rolling into Bengal ~ 22 Apr 2017
The investments are in the fields of agro machinery manufacturing, fertilisers, food processing, chemicals and pesticides manufacturing and seeds.

Perkasa wants updates on China investments every 6 months ~ 22 Apr 2017

Malaysia has no fear of the facts: Najib ~ 20 Apr 2017
On the contrary, what FDI shows is that people around the world believe that Malaysia is a good place to do business, to grow new businesses, and to expand.

China capital outflows stabilized in first-quarter as capital controls bite ~ 20 Apr 2017
Reduced pressure from outflows has helped steady the yuan this year and brought China's foreign currency reserves back over the closely watched $3 trillion mark.

Chua: Matrade expected to ink MOU with China Post at CAEXPO 2017 ~ 14 Apr 2017
  • Bilateral trade between Malaysia and China grew by 28.9% year-on-year (y-o-y) to RM19.79 billion in February 2017, whereby exports jumped 47.6% y-o-y to RM9.57 billion.
  • The increase in exports was mainly driven by higher exports of electrical and electronics products, petroleum products, chemicals and chemical products, rubber products, liquefied natural gas, as well as palm oil and palm oil-based agriculture products.
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